Gold Silver Reports (GSR) – Reliance Industries Stock Slips On Profit Miss In Q4 – Shares of the Mukesh Ambani-led oil-to-telecom conglomerate fell as much as 1.69 percent to Rs 977.95. – Reliance Industries Ltd.’s net profit rose for the eighth straight quarter aided by the petrochemicals business but missed analyst estimates.
The company’s profit rose nearly 3 percent to Rs 8,697 crore as compared to the previous quarter, RIL said in a stock exchange filing. That fell short of the Bloomberg consensus estimate of Rs 8,923 crore.
The bottom line rose as operating profit from the petrochemicals business rose nearly 12 percent sequentially to Rs 6,435 crore due to higher output following capacity expansion and better pricing, the company said in a separate press release. Operating profit from the refining business fell 9 percent to Rs 5,607 crore as the company processed lower crude volumes at its refineries.
